(Jan 28): Kia Corp said US tariffs cost it 3.3 trillion won (RM9 billion) last year and the South Korean automaker will roll out incentives to boost sales as competition intensifies. Tariffs totalled about one trillion won in the fourth quarter alone, Kia said Wednesday (Jan 28), driving a 32% slump in operating profit from a year earlier to 1.8 trillion won. That missed analyst estimates for 1.9 trillion won and came despite the company reporting its highest-ever fourth-quarter revenue on strong demand for electric and hybrid cars. It’s previously been said tariffs had caused a 1.8 trillion won hit in the third quarter. In the US, the new Telluride hybrid sports utility vehicle and Seltos compact SUV are expected to spur 5% sales growth, Kim said.

Source: The Edge Markets January 28, 2026 11:05 UTC